To Tell The Truth

There are many reasons why people don't tell the truth and when it comes to the insurance industry, there's a perception that by not admitting or omitting certain facts a person may save some money on their premium.

Yes, people sometimes lie to us when they think it may save them a few dollars on the cost of their insurance. One of the more common "untruths" is typically the commuting distances for auto insurance, as people do understand that the longer your commute, the more daily risk exposure you face and subsequently will see higher rates.

What most people don't remember is that insurance is based on the principal of good faith, and not telling the truth, also known as "non-disclosure", is grounds for a claim to be denied should the offending party be involved in an accident or incident!

The Most Misrepresented Facts When It Comes To Insurance!

• Dangerous Dog Breeds: considering the fact that some animals have a bigger bite which could be more injurious or even deadly.

• Home Use: If you rent out your home, including AirBnB, if you are not living in the home at all, or you are away for extended periods without someone checking in on a regular basis as outlined by the insurer, your home is at a higher risk and may need additional coverage.

• Wood Stove Or Fireplace: As you can imagine, either of these features use wood for fuel and are an added risk for fire.

• Renos: If your home is under construction your insurer needs to know, or if you have repairs that are needed, you must get the work done.

• Pools: The risks in having a pool are very high, which is why there are so many regulations regarding fencing and gates and other such safety requirements, but which are also factors that affect your insurance premiums.

• Trampolines: Another dangerous item to have on your premises and one which attracts children, just like the pool. Anytime a child is at risk for injury or death, there are much stricter rules and regulations, and proper insurance coverage is a necessity.

The reality is that honesty is the best policy, so make sure your insurer knows what's going on with your home to ensure you're properly covered and can avoid the chances of having a claim denied should a tragedy occur.